216 Higgins Road Park Ridge, IL, 60068 (847) 221-0154

What If My Loved One Is a Flight Risk or Wanders Away? | Chicago Estate & Elder Law Attorney-CPA, Anthony B. Ferraro

By on

January 21, 2014

- Alzheimer's Care, Chicago Elder Law

Wandering is one of the most dangerous and feared side effects of Alzheimer’s and dementia’s.  Usually, the main reason for someone wandering is they are trying to find some place that is familiar to them.  A problem with wandering is someone with Alzheimer’s or dementia may not realize they are doing dangerous acts, such as walking into traffic. The good news is that wandering can be prevented.  The website below includes some resources you may find helpful for protecting your loved one from the dangers of wandering. http://www.alzheimershope.com/symptoms_strategies/wandering.php Even though it is completely understandable to be scared and agitated when a loved one wanders away, it is very important to refrain from confronting them and badgering them. When a loved one wanders away a frantic confrontation will only make things worse. While it is certainly easy to say that one should not show fear or anger when a loved one wanders, putting that into practice is another matter. One of the most important things to keep in mind is not to lecture your loved one about wandering, in order to prevent an outburst. Alzheimer’s not only affects the memory, but may control that part of the brain which controls our behavior. Don’t  increase the fright of your loved one, or the chance of an outburst, by lecturing them. When it comes to wandering, simply remember to try to remain calm. -Anthony B. Ferraro
0

A Warning on VA Benefits | Chicagoland Estate Planning & Eldercare Attorney-CPA Anthony B. Ferraro

By on

January 17, 2014

- Chicagoland Elder Law, Estate Planning

Because it is illegal to charge veterans any fees for filing VA Benefit claims, there are few attorneys out there who know anything about these kinds of benefits.  Veterans Service Organizations (VSOs) are very knowledgeable on this subject and are eager to help, but they are all too often hard-pressed to have the resources to handle so many veterans.  Therefore, it can unfortunately be difficult for a veteran and/or his or her surviving spouse to get the sufficient help that they need to file a claim. The only other common source for information regarding VA Benefits are annuity salespeople, who sometimes offer to consult with veterans and/or their families regarding VA Benefits for free.  This offer usually consists of a consultation for the veteran to meet the asset and income limitations of the VA Benefit by buying an annuity from that salesperson, and the veteran giving away his or her assets to his or her children. In reality though, annuity salespeople are often being paid by an annuity company to sell a financial product to the veteran.  Sometimes an annuity can turn out to be a great thing for a veteran and his or her family, but other times an annuity can end up being a very poor financial decision.  In order to avoid making a poor financial decision, your first step in the VA Benefit process should be to get advice from a VA accredited attorney BEFORE transferring any assets and/or purchasing an annuity. Remember, the VA Benefit process does not have to be stressful if you follow the correct steps. -Anthony B. Ferraro
0

Medicare v. Medicaid | Chicagoland Estate Planning & Eldercare Attorney-CPA Anthony B. Ferraro

By on

January 16, 2014

- Chicagoland Elder Law

A brief reminder on the basic logistics of Medicare and Medicaid, and the differences between them: Medicare and Medicaid sound similar, but are very different programs.  Often times, people tend to confuse one with the other.  Medicare provides healthcare benefits for people who are older than 65 years old, blind, or disabled; Medicaid provides medical benefits for the impoverished. Here’s a quick rundown on the differences between Medicare and Medicaid: Medicare:
    • Health insurance for seniors 65 and older
    • Federally controlled, nationwide uniform application
    • Covers no more than 100 days of nursing home care
    • Covers primary hospital care and related medical services
Medicaid:
    • Needs-based health care program
    • Differs state by state with different regulations in each part of the application process
    • Covers long-term care costs
    • Covers medication costs
    • Must meet income and asset limits, be 65 or older, disabled, or blind in order to be considered eligible
Don’t be caught off guard by the differences in these two programs. -Anthony B. Ferraro
0

Why Estate Planning is Not a Do-It Yourself Project! | Chicago Estate Planning & Elderlaw Attorney-CPA, Anthony B. Ferraro

By on

January 15, 2014

- Chicago Elder Law, Estate Planning, Estate Planning Attorney

DO NOT CREATE YOUR OWN ESTATE PLAN. With today’s technology, there are many programs that allow us to create quick and cheap estate plans. Considering how busy the majority of us currently are, that sounds like a dream come true.  WRONG. The truth is, if you do not communicate with an Elder Law & Estate Planning attorney when creating your estate plan, you are only doing yourself a disservice.  In fact, you are potentially risking losing everything. The world of Elder Law is very complicated.  There is a lot of lingo and terminology that takes years of practice to fully understand.  The word income, for example, has a completely different meaning when it comes to different areas of the law.  So, if you do not understand Elder Law, how would you even begin to approach assessing your income when it comes to your estate plan?  If you attempt to create your own estate plan, the simplest misunderstanding or forgotten detail can cost you thousands of dollars, if not more.  The bottom line is, the only way to ensure your safety is to create an estate plan with an Elder Law & Estate Planning  attorney. You wouldn’t trust somebody without a medical degree to operate on you.  Why would you trust anybody but an Elder Law &  Estate Planning attorney to handle your estate plan? -Anthony B. Ferraro
0

Should Your Loved One with Alzheimer’s Still be Driving? | Illinois Estate Planning & Eldercare Attorney-CPA Anthony B. Ferraro

By on

January 14, 2014

- Alzheimer's Care, Estate Planning

One of the dilemmas a caregiver for someone with Alzheimer’s faces is whether or not they should continue to let their loved one drive.  No longer allowing your loved one to drive can lead your loved one to a feeling of defeat and taking away their keys can mean the loss of your loved one’s independence; however,  you must balance that loss with the safety of others on the road. An issue that many caregivers face surrounding the driving issue is their loved one’s insistence that there is no reason why they can no longer operate a vehicle.  Even if you get the doctor to insist to the patient that they should no longer drive, due to the memory loss, the patient may completely forget what the doctor told them.  So, you will find yourself in a seemingly never ending cycle of your loved one insisting on driving and you telling them no. In this case, the best thing to do is change the topic of conversation when the driving topic is brought up.  Diverting to a lighter topic of conversation by saying something like, “What do you want for dinner tonight?” may feel odd at first, like you’re ignoring your loved one, but the truth is, switching to a lighter topic of conversation can be a great stress reliever for both you and your loved one, even if it is only for a brief moment. Changing to a lighter topic should not take away from the overall seriousness of the driving issue, but for the time being, it provides some relief and you both can move forward. It is important to realize that driving is one of the most challenging issues surrounding Alzheimer’s today.  Helpful answers to this issue can come from the Alzheimer’s resource center at abferrarolaw.com/senior-resource-kits/alzheimers-resource-kit/. -Anthony B. Ferraro
0

How to Get Help with VA Benefits | Chicago Estate Planning & Eldercare Attorney-CPA Anthony B. Ferraro

By on

January 13, 2014

- Chicago Elder Law

The truth is, very little of the general public knows about VA benefits because Congress keeps them, for the most part, under wraps.  There are a select few who are legally authorized to provide information to veterans about benefits, and they are: 1)      Federal Veterans Administration employees; 2)      Employees of state Departments of Veteran’s Affairs; 3)      Authorized representatives of Veterans Service Organizations (like the VFW and American Legion, among others); and 4)      Attorneys licensed to practice law in the veteran’s state and accredited by the VA. Lawyers, such as myself, are authorized to provide information on VA benefits.  However, federal law prohibits a lawyer from charging a veteran to assist in helping them prepare the VA claim form for benefits; we are supposed to work for free. Congress does not always allow lawyers to charge a veteran in order to help with a VA benefit claim form because Congress has the idea that: 1)      There are plenty of capable and trained VA employees available to help veterans fill out VA claim forms for free; 2)      There are plenty of capable and trained volunteers available at the various Veteran’s Service Organizations to help fill out VA claim forms; and 3)      Veterans should be protected from attorneys who would overcharge them by doing something that is supposedly as simple as completing and submitting a VA claim form. So, I truly do recommend that if you have not already tried to get help from the Veterans Administration or a Veteran’s Service Organization, you do so immediately. Like myself, they’re there to help. -Anthony B. Ferraro
0

Monthly Checks from the VA | Chicago Estate Planning & Eldercare Attorney-CPA, Anthony B. Ferraro

By on

January 7, 2014

- Chicago Elder Law

Did you know that you may be eligible for a monthly check from the VA?  Depending on your situation, you (or your spouse) may be able to earn as much as $1,000 or $1,500 per month for serving our country, even if you served many years or even decades ago. Take a quick look at this 2010 VA Benefits chart. The 2014 numbers just came out and they are more favorable.  This may seem daunting, but don’t worry.  We’re here to help.

VA Benefits Chart (2010 figures)

Service Pension Rates (The veteran is alive):

Category: Service Pension
  • Maximum Annual Pension Rate: $11,830
  • Monthly Maximum Annual Pension Rate: $985
  • With one dependent:
    • Maximum Annual Pension Rate: $15,493
    • Monthly Maximum Annual Pension Rate: $1,291
  Category: Housebound
  • Maximum Annual Pension Rate: $14,457
  • Monthly Maximum Annual Pension Rate: $1,204
  • With one dependent:
    • Maximum Annual Pension Rate: $18,120
    • Monthly Maximum Annual Pension Rate: $1,510
  Category: Aid and Attendance
  • Maximum Annual Pension Rate: $19,736
  • Monthly Maximum Annual Pension Rate: $1,644
  • With one dependent:
    • Maximum Annual Pension Rate: $23,396
    • Monthly Maximum Annual Pension Rate: $1,949
  For each additional dependent child:
  • Maximum Annual Pension Rate: $2,020
  • Monthly Maximum Annual Pension Rate: $168 additional
 

Death Pension Rates (The veteran is NOT alive):

  Category: Death Pension
  • Maximum Annual Pension Rate- $7,933
  • Monthly Maximum Annual Pension Rate- $661
  • With one dependent child:
    • Maximum Annual Pension Rate- $10,385
    • Monthly Maximum Annual Pension Rate- $865
  Category: Housebound
  • Maximum Annual Pension Rate- $9,696
  • Monthly Maximum Annual Pension Rate- $808
  • With one dependent child:
    • Maximum Annual Pension Rate: $12,144
    • Monthly Maximum Annual Pension Rate: $1,012
  Category: Aid and Attendance
  • Maximum Annual Pension Rate: $12,681
  • Monthly Maximum Annual Pension Rate: $1,056
  • With one dependent child:
    • Maximum Annual Pension Rate: $15,128
    • Monthly Maximum Annual Pension Rate: $1,260
  For each additional dependent child:
  • Maximum Annual Pension Rate: $2,020
  • Monthly Maximum Annual Pension Rate: $168 additional
  I know that this is a lot to take in at once, so stay tuned for further explanation. -Anthony B. Ferraro
0

An Intro to Medicaid | Illinois Estate Planning & Elderlaw Attorney-CPA Anthony B. Ferraro

By on

January 6, 2014

- Eldercare Attorney, Medicaid and Paying for Nursing Home Care

Thinking about how you are going to cover the expensive cost of nursing home care is certainly a scary thought.  However, you have options.  Medicaid can help. Unfortunately, Medicaid assistance is not available to everyone.  Medicaid will cover the nursing homes costs for individuals who have run out of money and other resources.  For those who qualify, Medicaid covers nursing home expenses.  Medicare does not cover most nursing home expenses, so Medicaid fills that void. In truth, Medicaid is a very complex process.  So, before you begin to look into it, it is very important to consult an Elder Law attorney to avoid some very common mistakes. The biggest mistakes people makes include:
      1. Letting a nursing home, social worker, or the state Medicaid department complete your Medicaid application.
      2. Assuming there is nothing you can do because it is “too late” and there is nothing you can do to help your or your family save money because you are within five years of applying for Medicaid.
      3. Not letting an elder law attorney deal with the State Medicaid department for you.
These common mistakes can cost you large amounts money.  It’s important to consult with an Elder Law attorney to guide you through the minefield of public benefits, especially Medicaid. More to follow. -Anthony B. Ferraro
0